Hebei Iron and Steel Co., Ltd. (hereinafter referred to as "Hebei Iron and Steel"), a major domestic steel enterprise, disclosed that in order to further deepen the integration of the company's out-of-town sales business, it has decided to establish Beijing Hegang Iron and Steel Trading Co., Ltd. in Chaoyang District, Beijing, with a registered capital of 100 million yuan.

　　"After the relocation of Shougang, Hebei Iron and Steel should be regarded as the leader in Beijing's construction steel market. This time, in order to strengthen its position in the Beijing market, the company should be integrating its existing sales network, channels and other resources. After the new subsidiary is established, Hebei Iron and Steel will increase the proportion of direct supply and direct sales, which will reduce circulation links and allow steel enterprises to understand customer needs more directly," an analyst told the Beijing Business Today reporter.

　　On the same day, Hebei Iron and Steel also announced the election of Peng Zhaofeng as vice chairman of the company. Peng Zhaofeng currently serves as general manager, vice chairman and member of the Standing Committee of the Party Committee of Hebei Iron and Steel Group, and chairman and Party secretary of Handan Iron and Steel Group Co., Ltd. Not long ago, the resignation of Hebei Iron and Steel Chairman Wang Yifang triggered various outside speculation and also led to a series of senior management changes at Hebei Iron and Steel.